The University of Arizona board of regents has unanimously approved a merger between Phoenix-based Banner Health and University of Arizona Health Network in Tucson, according to an Arizona Daily Star report.
As part of the deal, Banner will renovate and expand UA Medical Center, a project expected to cost more than $500 million, according to the report. The renovation and expansion project is expected to begin in 2016.
Kathy Bollinger, who currently serves as president of Banner's Arizona West Region, will assume the role of president of Banner-University Medicine Division, which will be a new division created through the transaction. She will lead Banner-University Medical Center Tucson, Banner-University Medical Centers South and Banner Good Samaritan in Phoenix, which will be renamed Banner-University Medical Center Phoenix, according to the report.
The deal is expected to close Feb. 27.
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